12 U.S.C. § 2184 — Communications with stockholders

submitted 38 years ago by Pub. L. 92-181 to r/title-12-BANKS-AND-BANKING · 241 words · no verdicts yet

in plain englishAI-generated · not legal advice

A Farm Credit System bank or association must provide a current stockholder list within seven days after a written request, subject to written-use conditions. Instead, a stockholder may ask the institution to send a permitted communication to all stockholders and pay the reasonable costs.

(a)(1) A Farm Credit System bank or association must give one of its stockholders a current list of the institution's stockholders no later than seven calendar days after receiving the stockholder's written request. (a)(2) As a condition of providing the list, the bank or association may require the requesting stockholder to agree and certify in writing that the stockholder will use the list only to communicate with stockholders for permissible purposes and will not give the list to anyone except the stockholder's attorney or accountant without first obtaining the institution's written consent. (b)(1) Instead of receiving the list, a stockholder may ask the institution to mail or otherwise provide each stockholder with a communication for a permissible purpose on the requesting stockholder's behalf. (b)(2) The requesting stockholder may use this alternative if the requester agrees to pay the reasonable communication costs. If the requester chooses it, the institution must provide a written estimate of the handling and mailing costs as soon as practicable after receiving the request.

the actual law source: uscode.house.gov ↗public domain

(a) Provision of stockholder lists

(1) In general

A Farm Credit System bank or association shall provide to a stockholder of the bank or association a current list of stockholders of the bank or association not later than 7 calendar days after the date on which the bank or association receives a written request for the stockholder list from the stockholder.

(2) Conditions

As a condition of providing a stockholder list under paragraph (1), the bank or association may require that the stockholder agree and certify in writing that the stockholder will—

(A)

use the list exclusively for communicating with stockholders for permissible purposes; and

(B)

not make the list available to any person, other than the stockholder’s attorney or accountant, without first obtaining the written consent of the institution.

(b) Alternative communications

(1) Request to issue

As an alternative to receiving a list of stockholders, a stockholder may request the institution to mail or otherwise furnish to each stockholder a communication for a permissible purpose on behalf of the requesting stockholder.

(2) When permissible

Alternative communications may be used, at the discretion of the requesting stockholder, if the requester agrees to defray the reasonable costs of the communication. If the requester decides to exercise this option, the institution shall provide the requester with a written estimate of the costs of handling and mailing the communication as soon as is practicable after receipt of the stockholder’s request to furnish the communication.

Source credit: (Pub. L. 92–181, title IV, § 4.12A, as added Pub. L. 100–233, title IV, § 420, Jan. 6, 1988, 101 Stat. 1653; amended Pub. L. 115–334, title V, § 5411(21), Dec. 20, 2018, 132 Stat. 4681.)

history & why it existsrecord from the source credit

1988Enacted · Pub. L. 92-181 · 101 Stat. 1653
2018Amended · Pub. L. 115-334 · 132 Stat. 4681

A history note hasn’t been published yet. The record shows enactment by Pub. L. 92-181 on 1988-01-06.

all 0 arguments · sorted by: best

no arguments yet — make the first case